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Market Update: French Shares Little Changed on Tuesday
The CAC 40 traded close to parity on Tuesday, in line with its European peers, as investors continued to assess the risks of an early tightening of global monetary conditions, against a background of optimism about the pace of the economic recovery taking place. On the corporate side, later in the day shareholders of French media group Vivendi will vote on the sale proposal of a 10% stake in Universal Music Group to Bill Ackmans Pershing Square Tontine Holdings. The plan has been highly criticized by activist hedge funds, which have alleged it would disproportionately benefit Vivendis largest shareholder Vincent Bollore. [/s2If]
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